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RINAlliance® and the Renewable Fuel Standard
The Federal Renewable Fuel Standard (RFS), enacted in 2007 and enforced by the U.S. Environmental Protection Agency (EPA), created a mandate and a credit based compliance program to reduce the U.S. dependence on foreign oil and hydrocarbon based fuel in general. The program is designed to enable Obligated Parties (refiners, importers, fuel reformulators) the ability to comply with the mandate by purchasing liquid gallons or by purchasing Renewable Fuel Identification Numbers (RINs) which represent a gallon of renewable fuels.
Today, these credits are driving the renewable fuel markets as they are valued as high as $3.00 per gallon (biodiesel RIN). In the coming year, RINs are expected to increase in value as the federal blender credits go away.
The purpose of the RIN is two-fold. First, the RIN allows the EPA to track transactions as well as determine the volume of renewable fuels being produced, blended, and exported. Second, the RIN serves as an incentive to blend renewable fuels throughout the U.S. and regardless of the availability at pipeline terminals. The RFS RIN program has been extremely successful in the later but need serious review on the production end as questions of fraud and mis-management of RINs surface.
EPA requires that blenders receiving RINs must be registered with the EPA prior to accepting RINs, blending RINs, and selling RINs.
RINAlliance works with blenders by providing software platforms which complete quarterly reports on behalf of the blender. The system also provides third party CPAs for the annual audit and is capable of managing RIN trades which will maximize profits for the blender. The system is designed to allow a company of any size the ability to easily comply and benefit from the RFS program. It has become a significant source of income for many companies.
For information on RINAlliance, phone 1-866-433-7467 or go to www.rinalliance.com.
For more information on the Renewable Fuel Standard: